May 15, 2006


  • Dear Annie, Our CU has had 15,000 members but in the last four years we identified members with balances below $50 or zero balances and basically let them go. First we sent letters to them encouraging them to become active again but many moved out of the area or did not find a need to work with us {unfortunately} and just never got around to cancel their membership. We now are closer to 13,000 more active members. This may explain one of the reasons membership hase not grown while our assets have remained stable. We have since increased our advertising in the press and on billboards as well as community activity to increase our visibility. We want to grow and with new management are actively working on this through more loan options. This is more important at the moment than getting additional members although we are pursuing this too and have changed to a community charter. Keep in mind we had around 160 SEG's so this was a quasi community CU already. So far community charter has not brought us as many new members as we wish. This confirms your findings. Any ideas how to get more people interested in us? Please do not use my name or credit union in any of your publications or conversations. Thank you. Matt Pfaendler Director, Heritage Valley FCU York, PA